Business

Some Restaurants May Face Bankruptcy Within a Month: RAM

Restaurant Association of Maldives (RAM) has stated that some restaurants might have to face bankruptcy within a month. This was stated after the association declared that the advocations by the owners of the restaurants in the Maldives were not initiated by RAM.

In a new conference, a board member of RAM, Nuzail Ali stated that the association has been communicating with relevant authorities to bring practical resolutions to the issues faced by the restaurant industry of Maldives.

Nuzail further highlighted that the association has been communicating with authorities such as Economic Ministry, Static Electric Company Limited (STELCO), Male’ Water & Sewerage Company Pvt. Ltd. (MWSC) and Health Protection Agency (HPA) into finding solutions for arranging payments for bills, taxes, and employee payroll.

According to Nuzail, restaurant businesses are suffering a huge loss due to the lockdown and the sudden change in business hours along with COVID-19 restrictions, especially in the greater Male’ area. In his talk, he has also mentioned about the restaurant businesses that have just started with huge investments, going bankrupt.

Mariyam Suhana, General Secretary of RAM stated that in the meeting with HPA, the association had urged to provide the restaurants with methods to maintain its business by allowing delivery/takeaway services, etc. She noted that if quick action is not taken for the revival of the restaurant industry, a huge number of restaurants, cafés, and other food/beverage-based companies will run out of business with loss.

Currently, restaurants provide their service from 0900hrs to 2130hrs. However, concerns have been raising with the prohibition of vehicles from 2000hrs to 0500hrs, saying that this will lead to further destruction of the restaurants operating in the greater Male’ area.

Full details are available at the link below:

Source URL: Corporate Maldives

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